Is Telefonica finally getting serious about FTTH ?

Es_dpI've often said and written that Spain was one of the markets that would be the latest in seeing FTTH become a reality. The lack of serious competition to Telefonica in broadband means the incumbent has not serious reason to push. 

Still, this week Movistar (Telefonica's consumer brand) announced that they were launching 100 Mb/s service and discontinuing their entry level FTTH offering at 6Mb/s for a standard 10Mb/s entry level product. More importantly they announced that they would extend their footprint from the current 300 000 homes passed to 1 000 000 in the near future. ADSL Zone has the low down on the announcement (Movistar se prepara para realizar un despliegue masivo de fibra √≥ptica.)

Call me St Thomas, I still fear vaporware. Even the 300 000 homes passed seem a little unbelievable to me especially considering that Spain doesn't pop up in any international fiber ranking that I know of. Even assuming they do have 300 000 homes passed, that tells me they're not selling much of it. Ultimately, I guess I'll be confident they're doing it when I understand what their driver is...